Copper Top Stories

Nothing seems to matter in copper markets, except the trade war

Copper is slumping toward a three-month low even after Zambia…

BHP joins forces with prospect generator to explore Mexican copper project

Dr. John-Mark Staude, president and CEO of Riverside Resources, sits…

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China has head start tapping $3 trillion Afghan minerals

Reuters reports Afghanistan has grand plans for a vast rail network to attract mining investors, but experts say the project would simply be a new target for insurgents and warn that sovereign risk and high production costs are also deterring companies. With an impoverished economy ravaged by more than three decades of war and corruption and now bank rolled by foreign aid, Afghanistan's government has pinned its hopes of rebuilding on untapped mineral resources of mainly iron ore and copper, which it has said could be worth up to $3 trillion.

Thousands strike at Freeport’s Grasberg mine in Papua

According to reports more than 7,000 workers from Freeport McMoRan's massive gold and copper mine in Indonesia's western Papua region started a week-long strike on Monday to demand better wages. The Grasberg mine is the richest gold and third largest copper mine in the world and and the US company's local subsidiary is the largest single taxpayer to the Indonesian government.

Chilean copper miners announce strike

The Chilean Federation of Copper Workers announced a strike for July 11 to oppose plans to privatize the state-owned National Copper Company (Codelco). The management of Codelco, the biggest copper producer in the world, is preparing for privatization, said Raimundo Espinoza, a leader of the workers' federation, FTC.

Classic takeover battle as Brazil and China giants vie for African miner

The stock of cobalt and copper miner Metorex is up by a third this year following Brazilian giant Vale's $1.1bn bid for the mid-tier producer. With reports surfacing that Jinchuan, China's biggest nickel miner, is readying a competing offer shareholders of the Johannesburg-based company look set to extract further value ahead of a vote on July 22. Metorex has aggressive expansion plans for its central and Southern African projects and aims to more than double its current annual copper output of around 50,000 tonnes. It's a far cry from the situation in 2009 when the company was fighting for survival amid serious cost overruns in the Congo.

Teck announces pricing of US$2.0 billion notes offering

Teck Resources Limited (TSX: TCK.A and TCK.B, NYSE: TCK) ("Teck") announced today that it has priced its previously announced offering of senior unsecured notes. Teck will issue US$2.0 billion in aggregate principal amount of notes, consisting of US$300 million aggregate principal amount of 3.15% notes due 2017, US$700 million aggregate principal amount of 4.75% notes due 2022 and US$1.0 billion aggregate principal amount of 6.25% notes due 2041.